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2023-03-31-accounts

Charity registration number 1172314

YOUNG CAMDEN FOUNDATION

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

YOUNG CAMDEN FOUNDATION

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Stephen
Greene (Vice
Chair)
Fiona Millar
(Chair)
Martin Pratt
Paula Preet
Abdikar Ahmed
Tom Simpson
Anneka
Munsch
Niels Pedersen (Appointed 1 December
2022)
Foyezur Miah
Margaret (Appointed 17 June 2022)
Mendy
A Akec
Charity number 1172314
Principal address Labs Atrium
The Stables Market
Chalk Farm Road
London
NW1 8AH
Auditor Critchleys Audit LLP
Beaver House
23-38 Hythe Bridge Street
Oxford
OX1 2EP
Bankers CAF Bank Limited
25 Kings Hill Avenue
Wesy Malling
Kent
ME19 4JQ

YOUNG CAMDEN FOUNDATION

CONTENTS

Page
Chair's Report 1
Trustees' report 2 - 8
Statement of Trustees' responsibilities 9
Independent auditor's report 10 - 12
Statement of financial activities 13
Balance sheet 14
Statement of cash flows 15
Notes to the financial statements 16 - 28

YOUNG CAMDEN FOUNDATION

CHAIR'S REPORT

FOR THE YEAR ENDED 31 MARCH 2023

We are pleased to present the Young Camden Foundation’s Annual Report for 2022/23. This report covers our sixth year of operation in which we have welcomed a new Chief Executive, expanded our team and seen growth in our membership, projects and grant-giving for the benefit of young people in Camden. We have also continued to deliver the Holiday Activity Fund on behalf of the Department of Education and in partnership with Camden Council. This scheme offered over 4700 places and over 26,000 meals to Camden children in the 2022-2023 financial year.

These are difficult times for many families in our community as the cost-of-living crisis has had a huge impact on their day to day lives. This makes our work with members, Camden Council, and the business community more important than ever. We never lose sight of our role in building partnerships between different stakeholders in Camden and increasing investment in our youth services. In this report you will see that our new Chief Executive has covered in detail how our organisation has grown and developed new relationships in our vibrant and diverse local area. I would like to thank Daisy and all her team, whose energy and innovative ideas have enabled this growth, for their hard work and dedication to our community.

We would also like to thank John Lyon’s Charity, the London Borough of Camden, City Bridge Trust and our numerous business partners for their help and support. Above all I would like to pay tribute to our members, who are working at the front line with our young people, and who are at the heart of what we do.

On a final note, this will be my final report as Chair of the Young Camden Foundation as I have completed two full terms as a trustee. It has been a hugely satisfying experience, and I am proud to have been involved in the response of so many organisations in Camden that helped support young people through COVID 19 pandemic. Several of the founder trustees will also be standing down in the coming year, but I am confident that we have a very strong board, whose members will recruit an outstanding candidate as my successor and continue to build on the success that the Young Camden Foundation has achieved so far.

.............................. Fiona Millar Chair Date: .........................

YOUNG CAMDEN FOUNDATION

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2023

The Trustees present their annual report and financial statements for the year ended 31 March 2023.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Foundation's Constitution, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).

Legal Structure

Young Camden Foundation (“YCF”) is a registered charity, number 1172314. It was registered with the Charities Commission in March 2017, constituted as a Charitable Incorporated Organisation (CIO). Additional trustees are recruited and appointed by existing trustees.

Public Benefit

The trustees have complied with their duty to have due regard to the Charity Commission’s Public Benefit Guidance (PB1 the Public Benefit Requirement, PB2 Public Benefit Running a Charity and PB3 Public Benefit Reporting) when exercising powers or duties to which the guidance is relevant.

Objectives and activities

Background

Established in 2017, Young Camden Foundation (“YCF”) is a registered charity set up to address the growing uncertainty of long-term investment in the children and young people sector in Camden and the need to build more cross-sector partnerships. YCF aims to provide a new model of local support for its members, which includes building capacity and better equipping the community with resources and funding, connecting and working with organisations to develop new and entrepreneurial approaches to supporting young people and championing critical issues facing the local community.

In the financial year ending March 2023, YCF awarded more than £851,000 grants to members, which include Camden-based charities that offer services and support to children and young people. This means that, as of March 2023, YCF had awarded more than £3,175,000 in grants to its members since its inception.

Mission Statement

YCF aims to encourage and assist its members, partners, and supporters in connecting and working together to form innovative and sustainable opportunities for young people in Camden.

Objectives

The promotion of the efficiency and effectiveness of charities and the effective use of charitable resources by organisations working with children and young people for the benefit of the public by providing support and advice to charities and through assisting non-charitable organisations to directly further a charitable purpose.

To advance in life and relieve the needs of young people through making grants to organisations that do any or all of the following:

YOUNG CAMDEN FOUNDATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Activities

YCF believes that all children and young people in Camden should have the support and opportunity to thrive. YCF aims to grow a vibrant, resilient and connected community that is invested in supporting, and creating meaningful opportunities for, all children and young people in Camden and to create a new model of local support at a time of significant funding challenges. The main activities for the organisation include, but not be limited to:

The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Foundation should undertake.

Young People’s Foundations

YCF is part of the Young People’s Foundation (“YPF”), a model set-up by John Lyon’s Charity to address the ongoing pressures on the Children and Young People sector. YPF brings together the public, private and voluntary sectors to effect positive change for young people. Based in local communities, each YPF is an independently registered charity, and their services are led by their members and based on the needs and assets of their area. Together they share a common goal – to help create and champion a more impactful, co-ordinated, and sustainable sector to ensure all young people have access to quality support and opportunities.

As of March 2023 Young People’s Foundations exist in nine London boroughs and include: Young Barnet Foundation; Young Brent Foundation; Young Camden Foundation; Young Ealing Foundation; Young Hammersmith & Fulham Foundation; Young Harrow Foundation; Young Westminster Foundation; Young Kensington & Chelsea. Other areas are also under consideration.

Governance

The Board meets formally every quarter, with both the CEO and Chair in attendance. All meetings are serviced and recorded by a clerk to the trustees. We have established a hybrid model offering face to face and digital attendance.

YCF has a board which is a mixture of members’ representatives and people with specific skills. We recruit member trustees to reflect the geographic locations in the borough. Specific skills are replaced through an external recruitment process.

Existing trustees and the CEO have joint responsibility for identifying and encouraging new trustees. Once a possible new trustee has been identified they are invited meet with one or more trustees and often also the CEO. If all goes well, they are then proposed, seconded and voted in at the following meeting. Once appointed new trustees have an induction process to make sure they are fully aware of their responsibilities as a charity trustee.

Trustee engagement has focused on the opportunity for enhanced learning through the sub-committees and resulted in greater understanding and scrutiny. We are also developing a new induction program for our trustees to ensure they build on the skills they bring to YCF and truly understand the YCF mission and operations.

Board development is an ongoing process. Training opportunities are shared with trustees whenever they arise, and trustees are encouraged to attend any staff wide training that occurs. Board Away Days usually occur annually which allow the Board to be fully involved in strategy and forward planning for the year ahead. As YCF is part of the YPF Network it can access best practice training in line with the Young People’s Foundation Trust guidance and trustees are able to participate in cross network opportunities greatly enhancing their trustee experience.

YOUNG CAMDEN FOUNDATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

The Chair and CEO meet regularly to enable support and resilience. The Board has remained dedicated and supportive of our work and embraced the continued challenges of the covid recovery. They are to be thanked, as volunteers for their time and commitment.

YCF has the following sub-committees: Finance, Grants, Fundraising, HR and Safeguarding. The members of the various sub-committees are exclusively trustees.

The trustees have delegated the day-to-day running of YCF to the CEO.

Financial Review

During the financial year to 31/3/2023, income increased by 2.3% to £1,143,557 while outgoings decreased by 2.7% to £1,117,635. Grants made decreased by 3.1% to £851,576. A surplus of £25,932 was recorded. Total reserves increased by 10.1% to £281,772. YCF is in a strong financial position as suggested by its free reserves which increased from £171,821 at the beginning of the financial year to £209,000 as of 31/3/23. This means free reserves exceed the range set out in the reserves policy. Because of this, the Board has decided the surplus should be used by 31/3/2025.

Reserves Policy

YCF holds free reserves to ensure its long-term viability. The purpose of the reserves policy is to formalise this while while explaining why YCF is holding a particular level of free reserves. The reserves policy is reviewed annually.

Based on its assessment of various risks, of which the main risks are set out in the section above, the Board considers that YCF needs to hold free reserves of between £112,600 and £151,200 which, at the time of the most recent policy review, equated to about 4.9 to 6.6 months of budgeted operating expenses.

Investments

YCF has a policy not to make investments. Monies are held on account with banks or building societies.

Risks

As a charity which gives out grants, YCF faces limited risks related to the delivery of this purpose. Its main risks are 1) a sustained decline in funding and 2) staff issues including adverse effects of having unfilled positions, recruitment costs, redundancy costs and increased staff costs.

Together with the CEO, the trustees continue to monitor these risks and to take appropriate and proportional action to mitigate them. The trustees also undertake regular horizon-scanning for emerging or increasing risks. Being part of the YPF Network is very helpful to this process.

In respect of funding, we have long-standing and strong relationships with our key funders and we continue to nurture these relationships. We also continuously seek to broaden our funding base. Our CEO and Partnership Development & Grants Manager lead these efforts on behalf of the charity.

In respect of staff risks, the CEO and the trustees invest considerable time in preparing for various scenarios. This resulted in staff turnover, which was a prominent feature during the first 9 months of the financial year, being handled quickly, effectively, and successfully.

Plans for future periods

We are now into the second year of our three year strategy, available on YCF’s website, detailing our objectives going forward, and our activities to achieve these. The headlines are:

YOUNG CAMDEN FOUNDATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

The Trustees who served during the year and up to the date of signature of the financial statements were: Stephen Greene (Vice Chair)

Fiona Millar (Chair) Martin Pratt Faaiza A. Lalji (Resigned 7 March 2023) Paula Preet Abdikar Ahmed Roman Arbuzov (Treasurer) (Resigned 1 December 2022) Tom Simpson Anneka Munsch Niels Pedersen (Appointed 1 December 2022) Foyezur Miah Margaret Mendy (Appointed 17 June 2022) A Akec

Message from YCF’s Chief Executive Officer

Introduction

I was delighted to join the organisation in May 2022 taking over from Memoria Lewis who had acted as interim-CEO for a four months period. I share the Trustees’ thanks to Memoria, who had the difficult job of overseeing the organisation on an interim basis, and maintained strong engagement and relationships throughout.

This financial year saw the emergence of a ‘new normal’ of operations, heavily influenced both by the pandemic and the emerging cost of living crisis. As with fellow organisations, YCF saw a real transition over the year, beginning the financial year with tentative and occasional in person work, and ending it with in-person working being the norm.

The context of this financial year

It is difficult to overstate the impact of the cost-of-living crisis in this period, both on children and young people themselves, but also on YCF’s member organisations. In this period, across Camden, families were making impossible decisions between heating and eating, with young people taking on jobs or additional responsibilities to provide for their families.

A number of trends have also hit YCF members, impacting operations and viability including the downward trend in volunteering, some charity staff going from service providers to service users, increased waiting lists for core services (meaning the pressure on voluntary and third sector provider organisations has increased), recruitment shortages especially within the youth sector, and ongoing financial hardship, with an increased number of organisations relying on reserves to make ends meet and pay staff.

Indeed our membership report of January 2023 noted some striking trends:

Over the course of the year, the YCF team not only welcomed myself as the new CEO, but also a new Partnership Development & Grants Manager, Operations Administration Apprentice, HAF Project Officer and Assistant, and Membership Engagement & Communications Officer. Each change brought some upheaval but a great deal of renewed energy and enthusiasm, and we have ended this financial year with a new team excited to step up YCF’s efforts to help the children and young people sector in Camden in these challenging times.

YOUNG CAMDEN FOUNDATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Despite significant challenges, this financial year saw continued positive outcomes for YCF and for its members. Between April 2022 and March 2023, Young Camden Foundation distributed £851,576 across Camden’s children and young people sector, via small grants to over 90 members, further strengthening our grant giving activities.

Trends in membership

During this period, our membership increased to 135 members, including community organisations that had emerged as a result of the pandemic.

Our membership survey in Winter 22/23 captured a couple of key themes amongst our members, providing insight into the composition of the membership as well as YCF’s engagement with them (with a significant increase in membership responses from previous years).

We are very proud that the survey reflected our hope of being useful to the sector. Indeed, over 80% of members agreed that their own organisation had directly benefitted as a result of being a member of YCF, and 90% agreed that the sector in Camden benefitted from YCF’s ability to create partnerships for the benefit of the sector. Of members’ views on the most valuable service provided by YCF, the signposting to funding and training, advocacy for the sector, bringing in new sources of funding, and providing small grants for the sector were all rated highly.

It is also clear that demand for YCF’s work continued in this year. 63% of members surveyed had applied for a YCF grant over the last 12 months, and 41% had accessed YCF led training in the same period. We also know that, as indicated in the Winter Community Fund report, a great deal of grantees in our small grants rounds would not otherwise have been able to deliver their programmes without YCF funding.

Operational and governance support continues to be a priority for YCF members, including digital and marketing support, bid-writing and fundraising, and leadership development support, which has shaped our training and events in the year that has followed. Mental health and wellbeing continue to be the standout theme for grants requests, closely followed by holiday and after school provision, employability, arts and sports and diversity and inclusion.

HAF

The 22/23 financial year saw another successful completion of the Easter, Summer and Winter 2022 HAF programmes, funded by the Department for Education, with Camden Council commissioning YCF to deliver the programme in the borough.

Overall, the HAF 2022 programme in Camden offered a total of 4726 places to children and young people in 2022. Of these, 1430 children and young people during the Easter programme, 2395 during the Summer programme and 901 during the Winter programme, meaning an average of 21% of FSM eligible children and young people in Camden were able to participate on the programme overall. 73% of participants were primary aged children and 27% secondary aged. 14% of the participating children had SEND needs, many of which required tailored one to one support which the programme was able to offer. Over 26,000 meals were served across over 50 venues and 40 providers, across 15 of a total number of 18 wards in the London Borough of Camden. In total, £707,326.54 was distributed across the borough of Camden as part of the HAF Programme over the course of the year.

Within this financial year, we were proud to be chosen to be Camden Council’s delivery partner once again for the 23/24 year of the HAF programme.

YOUNG CAMDEN FOUNDATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Grants

The first quarter of this financial year saw the successful completion of the Pathways Fund, part of Camden Council’s Community Impact fund, with £80,000 distributed to YCF’s member organisations, to support youth violence prevention, and the successful distribution of the remainder of the Youth Social Action fund.

The second quarter saw the successful distribution of YCF’s Summer Opportunity Fund, funded by John Lyon's Charity, Shaftesbury plc (now Shaftesbury Capital), The Big Give, and the Childhood Trust, with £48,500 awarded across 17 grantee organisations. The fund enabled 1122 young people to access summer opportunities, with an average of 58 hours of provision funded for each participating young person. 30% of participating young people were Free School Meal eligible, and 11% had SEND needs, and provision was funded across 10 Camden wards.

This was awarded alongside another year of the Supplementary Education Fund, funded by John Lyon’s Charity, distributing £25,000 via 7 grantee organisations. This fund enabled 273 young people access to supplementary education in Camden, with over half being first-time participants. Of these participants, 84% were Free School Meal eligible, and 14% had SEND needs. Languages spoken across the participating group included Arabic, Bengali, Farsi/ Dari, French, Somali and Ukrainian.

This financial year also saw the establishment of the first ever Winter Community Fund, established in recognition of the cost-of-living crisis, and the additional pressures being placed on both Camden’s young people and our member organisations. Owing to successful fundraising, we were able to run two rounds of this fund, in December 2022 and January 2023, supporting programmes from the winter holidays and up to February half term. This fund was funded by Derwent London, Shaftesbury Capital, The Big Give, The Childhood Trust, and Camden residents themselves, after a letter to all high-rate council tax residents from the Leader of Camden Council, asking them to consider making a donation to YCF. As a result of total fundraising efforts, over £25,000 was distributed, reaching almost 700 children and young people. As another testament to the impactful nature of YCF’s work, 83% of grantees reported that they would not have been able to fund their Winter programmes without YCF’s funding.

Partnerships

The third quarter saw YCF being successful as part of the London Funders consortium ‘Propel’ bid with fellow London YPFs in a consortium led by Young Westminster Foundation, funding youth and play worker development, specialised practitioner forums across boroughs and across North and West London, and a training and qualifications fund.

We are also proud to have significantly increased business and corporate engagement in the past 12 months, including laying the groundwork for YCF’s new Business Partnership Programme, launched in Summer 2023. This financial year saw the successful completion of a comprehensive project of fundraising training from the Charities Aid Foundation, a Cost-of-Living event in West Hampstead with then Deputy Mayor, Cllr Nazma Rahman, and specialist commissioned trainings including a Press & Communications Workshop, all mainly taking place in person.

Finally, towards the end of this financial year YCF was invited to apply to Land Securities, funding our long planned for Young Ambassadors programme, being launched in the 23/24 financial year.

We thank all those who worked with YCF during the challenging period of 2022/23 and we look forward hopefully to a better deal for children, young people and the wider sector in 2023/24 and beyond.

I would also like to specifically thank the YCF staff team, as at the time of writing, as well as all the staff who worked for YCF over this financial year, for their hard work in making all of the above possible:

As well as Grace Maric (HAF Administrator) and Alev Omer (Membership & Events Assistant) who joined YCF after the end of the financial year.

YOUNG CAMDEN FOUNDATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

For the avoidance of doubt, while the CEO’s statement is not in itself part of the Trustees’ Annual Report, the trustees have decided to adopt the statement as if made by them and therefore make it part of their statutory report.

Written by Daisy Srblin, CEO.

.............................. Fiona Millar (Chair) Date: .............................................

YOUNG CAMDEN FOUNDATION

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 MARCH 2023

The Trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Foundation and of the incoming resources and application of resources of the Foundation for that year.

In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the Foundation and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the Foundation and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

By order of the Board of Trustees

.............................. Fiona Millar (Chair) Chair

Date: ...........................................

YOUNG CAMDEN FOUNDATION

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF YOUNG CAMDEN FOUNDATION

Opinion

We have audited the financial statements of Young Camden Foundation (the ‘Foundation’) for the year ended 31 March 2023 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Foundation in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Foundation’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The Trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

YOUNG CAMDEN FOUNDATION

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF YOUNG CAMDEN FOUNDATION

Responsibilities of Trustees

As explained more fully in the statement of Trustees' responsibilities, the Trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the Foundation’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Other matters

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (as amended) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

This has been done in order for the financial statements to provide a true and fair view in accordance with current Generally Accepted Accounting Practice.

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

YOUNG CAMDEN FOUNDATION

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF YOUNG CAMDEN FOUNDATION

Robert Kirtland (Senior Statutory Auditor) for and on behalf of Critchleys Audit LLP

14/12/23 .........................

Chartered Accountants Statutory Auditor

Beaver House 23-38 Hythe Bridge Street Oxford OX1 2EP

Critchleys Audit LLP is eligible for appointment as auditor of the Foundation by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

YOUNG CAMDEN FOUNDATION

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2023

Unrestricted
Restricted
funds
funds
2023
2023
Notes
£
£
Income from:
Donations and
legacies
3
214,345
928,285
Charitable activities
4
-
-
Investments
5
927
-
Total income
215,272
928,285
Expenditure on:
Raising funds
6
29,756
-
Charitable activities
7
148,114
939,755
Total expenditure
177,870
939,755
Net incoming/(outgoing)
resources before
transfers
37,402
(11,470)
Gross transfers
between funds
(223)
223
Net income/(expenditure)
for the year/
Net movement in funds
37,179
(11,247)
Fund balances at 1 April
2022
171,821
84,019
Fund balances at 31
March 2023
209,000
72,772		 Total
Unrestricted
Restricted
funds
funds
2023
2022
2022
£
£
£
1,142,630
167,090
941,638
-
9,473
-
927
9
-
1,143,557
176,572
941,638
29,756
-
-
1,087,869
114,412
1,034,583
1,117,625
114,412
1,034,583
25,932
62,160
(92,945)
-
(12,661)
12,661
25,932
49,499
(80,284)
255,840
122,322
164,303
281,772
171,821
84,019		 Total
2022
£
1,108,728
9,473
9
1,118,210
-
1,148,995
1,148,995
(30,785)
-
(30,785)
286,625
255,840

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

YOUNG CAMDEN FOUNDATION

BALANCE SHEET

AS AT 31 MARCH 2023

2023
Notes
£
Current assets
Debtors
13
85,122
Cash at bank and in hand
364,101
449,223
Creditors: amounts falling due within
one year
14
(167,451)
Net current assets
Income funds
Restricted funds
16
Unrestricted funds
The financial statements were approved by the Trustees on .........................
..............................
Fiona Millar
Chair		 2022
£
£
99,272
325,022
424,294
(168,454)
281,772
72,772
209,000
281,772		 £
255,840
84,019
171,821
255,840

YOUNG CAMDEN FOUNDATION

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2023

Notes
Cash flows from operating activities
Cash generated from operations
21
Investing activities
Investment income received
Net cash generated from investing
activities
Net cash used in financing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2023
£
927		 £
38,152
927
-
39,079
325,022
364,101		 2022
£
9		 £
126,643
9
-
126,652
198,370
325,022

YOUNG CAMDEN FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies

Charity information

Young Camden Foundation (“The Foundation”) is a registered charity, number 1172314. It was registered with the Charities Commission in March 2017, constituted as a Charitable Incorporated Organisation (CIO). Registered address: LABS Atrium, Stables Market, Chalk Farm Road, London, NW1 8AH.

1.1 Accounting convention

The financial statements have been prepared in accordance with the Foundation's [governing document], the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The Foundation is a Public Benefit Entity as defined by FRS 102.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the Foundation. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the Foundation has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Income

Donations are recognised in the financial statements when received.

Grants are recognised in the financial statements when due.

Sales are recognised when the related services have been provided.

YOUNG CAMDEN FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity.

Grants awarded are recognised as expenditure when the recipient is notified of the award of the grant.

1.6 Tangible fixed assets

Fixed assets with a value of up to £1,000 are charged to expenditure.

1.7 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8 Financial instruments

The Foundation has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Foundation's balance sheet when the Foundation becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Foundation’s contractual obligations expire or are discharged or cancelled.

1.9 Taxation

The Foundation is a registered charity and is not subject to corporation tax on its current activities.

YOUNG CAMDEN FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies

(Continued)

1.10 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.11 VAT

The Foundation is not VAT registered so is therefore unable to recover any VAT. Irrecoverable VAT is charged to the relevant expenditure account when it is incurred.

2 Critical accounting estimates and judgements

In the application of the Foundation’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Key sources of estimation uncertainty

Prepayments

Prepayments have been estimated based upon purchase invoices paid during the financial year that partly or entirely relate to the following financial year. Prepayments totalled £55,122 during the financial year (2022: £67,327).

3 Donations and legacies

Unrestricted
Restricted
funds
funds
2023
2023
£
£
Donations and gifts
214,345
928,285
Unrestricted donations and gifts is made up from
John Lyons Charity
110,000
Camden Council
30,000
Individual donations
3,313
Core cost contributions
64,032
Other grant icnome
7,000
214,345		 Total
Unrestricted
Restricted
Total
funds
funds
2023
2022
2022
2022
£
£
£
£
1,142,630
167,090
941,6381,108,728		 Total
Unrestricted
Restricted
Total
funds
funds
2023
2022
2022
2022
£
£
£
£
1,142,630
167,090
941,6381,108,728

YOUNG CAMDEN FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

4 Charitable activities

5
6		 2023
2022
£
£
Charitable activities
-
9,473
Investments
Unrestricted Unrestricted
funds
funds
2023
2022
£
£
Bank interest receivable
927
9
Raising funds
Unrestricted
Total
funds
2023
2022
£
£
Fundraising and publicity
Staff costs
22,592
-
Support costs
7,164
-
Fundraising and publicity
29,756
-
29,756
-		 2022
£
9,473
Total
2022
£
-
-
-
-

YOUNG CAMDEN FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

7 Charitable activities

Grants and direct project costs (see note 8)
Share of support costs (see note 9)
Share of governance costs (see note 9)
Analysis by fund
Unrestricted funds
Restricted funds
8
Grants payable
2023
£
Grants to institutions:
Action Youth Boxing
21,950
African Physical Training (APTO)
3,000
Albanian Community UK
10,528
Ball Out The Box
29,240
Be The Band CIC
5,750
BeLifted Now
4,485
Bloomsbury Football Foundation
36,508
British Somali Community Centre
8,813
Brookfield Primary School
-
Calthorpe Community Garden
12,400
Camden Arabic Association
3,000
Camden Sports Development
19,200
Camden United
10,000
Caris Camden
1,461
Cartesian Academy
3,002
Centre 404
17,856
Coram's Fields
3,000
Creators House
11,982
CSKX Studios
-
Dragon Hall
10,731
Eat Club
-
Eleanor Palmer Primary School
-
Elfrida Rathbone
-
Fitzrovia Youth in Action
-
Fuzion Academy
-
Global Generation
8,000
Gospel Oak Action Link Youth Club
6,749
Growing Hope King's Cross
-		 2023
£
889,754
193,177
4,938
1,087,869
148,114
939,755
1,087,869		 2022
£
960,755
184,440
3,800
1,148,995
114,412
1,034,583
1,148,995
2022
£
17,778
11,610
2,940
-
-
2,500
92,619
2,940
1,250
14,575
-
18,040
-
-
2,240
3,185
4,978
-
12,524
5,002
4,614
2,235
2,548
3,622
143,323
8,160
-
1,975

YOUNG CAMDEN FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

8 Grants payable (Continued)
Hampstead Community Centre 3,000 2,180
Heath Hands - 2,500
Holborn Community Association 1,600 7,228
HVH Arts 45,161 23,036
IAMI Ltd 7,500 -
Impact Dance - 2,646
King’s Cross Brunswick Neighbourhood Association (KCBNA) 12,668 10,423
Kentish Town CofE Primary 8,020 6,102
Kentish Town City Farm 6,000 6,400
Kentish Town Community Centre 16,960 18,952
Lauderdale House - 1,200
LB Camden Early Help 29,222 27,341
LB Camden (return of HAF overpayment) 6,964 -
Learning and Development Centre 11,707 11,420
Legacy Sports 39,605 26,280
Let Me know - 11,881
London Inclusion Sports Academy 4,320 -
Maiden lane CC 5,120 49,156
Maze Academy 16,932 -
Metro Box - 2,900
Moving Waves 6,366 -
Netley Primary School 6,000 7,414
Newham Sports Club 6,128 -
New Diorama Theatre 5,000 3,000
NW5 Community Play Project 5,000 -
Our Parks 22,840 -
Our Lady and St Michael - 3,000
PACE 155,487 129,130
Parliament Hill School Trust - 2,801
Platform Cricket 7,200 -
Plot 10 CPP 1,995 -
Pro Touch 51,828 27,413
Queens Crescent Community Association (QCCA) 15,939 17,130
Regents ParkTime Bank 3,000 4,400
Reverse The Trend Foundation 3,000 -
Samuel Lithgow Youth Centre 2,820 3,373
Scene & Heard - 1,282
Sidings Community Centre 13,608 11,093
Somali Youth Development Resource Centre (SYRDC) 18,333 16,890
Somers Town Community Centre 10,145 1,632
South Hampstead Kilburn Community Partnership 11,162 5,728
(SHAK)
St Mary’s Centre Community Trust - 1,440
St Mary's C of E Primary and St Eugene de Mazenod Primary - 3,000
St Pancras and Somers Town Living Centre - 9,400
STORE PROJECTS 6,300 -
Survivors Can Shine 5,190 -
Thanet Youth and Community 3,000 3,000
The Apex Project CIC 5,000 -
The Caraf Centre - 2,940
The Sapphire Foundation - 25,900

YOUNG CAMDEN FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

8
Grants payable
Torriano Primary School
Urban Outdoors
WacArts
Winchester Project
Yes Outdoors
YMCA
Zoological Society of London
Other organisations (receiving less than £1,000 grants)
Direct project costs
Total grants payable and direct project costs as per note 6		 (Continued)
29,700
-
-
15,210
3,000
11,309
1,999
-
3,000
2,200
2,998
-
2,640
-
464
1,829
851,576
878,817
38,178
81,938
889,754
960,755		 (Continued)
29,700
-
-
15,210
3,000
11,309
1,999
-
3,000
2,200
2,998
-
2,640
-
464
1,829
851,576
878,817
38,178
81,938
889,754
960,755
878,817
81,938
960,755

9 Support costs

Salaries and wages
Social security costs
Contractor costs
Defined contribution
scheme
Recruitment
Staff development and
training
Other
Rent and Office
expenses
General Expenditure
Audit fees
Analysed between
Fundraising
Charitable activities		 Support
costs
Governance
costs
£
£
121,028
-
13,397
-
3,558
-
7,253
-
2,311
-
6,635
-
442
-
25,392
-
20,325
-
-
4,938
200,341
4,938
7,164
-
193,177
4,938
200,341
4,938		 2023
£
121,028
13,397
3,558
7,253
2,311
6,635
442
25,392
20,325
4,938
205,279
7,164
198,115
205,279		 Support
costs
Governance
costs
£
£
108,077
-
4,867
-
1,209
-
4,189
-
670
-
636
-
679
-
40,169
-
23,944
-
-
3,800
184,440
3,800
-
-
184,440
3,800
184,440
3,800		 2022
£
108,077
4,867
1,209
4,189
670
636
679
40,169
23,944
3,800
188,240
-
188,240
188,240

YOUNG CAMDEN FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

10 Trustees

None of the Trustees (or any persons connected with them) received any remuneration or benefits from the Foundation during the year.

11 Employees

The average monthly number of employees during the year was:

Employment costs
Wages and salaries		 2023
Number
6
2023
£
22,592		 2022
Number
5
2022
£
-

There were no employees whose annual remuneration was more than £60,000.

12 Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. 13 Debtors

Amounts falling due within one year:
Trade debtors
Other debtors
Prepayments and accrued income		 2023
£
30,000
-
55,122
85,122		 2022
£
30,000
1,944
67,328
99,272

14 Creditors: amounts falling due within one year

Notes
Deferred income
15
Trade creditors
Other creditors
Accruals		 2023
£
105,600
11,380
5,615
44,856
167,451		 2022
£
120,000
13,399
533
34,522
168,454

YOUNG CAMDEN FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

15
Deferred income
2023
£
Other deferred income
105,600
Deferred income is included in the financial statements as follows:
2023
£
Deferred income is included within:
Current liabilities
105,600
Movements in the year:
Deferred income at 1 April 2022
120,000
Released from previous periods
(120,000)
Resources deferred in the year
105,600
Deferred income at 31 March 2023
105,600		 2022
£
120,000
2022
£
120,000
-
-
120,000
120,000

YOUNG CAMDEN FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

16 Restricted funds

Restricted funds
Movement in funds Movement in funds
Funder Fund Type Balance at Incoming Resources Transfers Balance at Incoming Resources Transfers Balance at
1 April 2021 resources expended 1 April 2022 resources expended 31 March
2023
£ £ £ £ £ £ £ £ £
Camden Council Summer
Opportunity
Fund 4,359 - - - 4,359 - (4,359) - -
Hollick Famiy Foundation Summer
Opportunity
Fund 281 - - - 281 - (281) - -
Derwent Summer
Opportunity
Fund - 2,500 (452) - 2,048 - (2,048) - -
Childcare Trust Fund Summer
Opportunity
Fund - 7,500 (7,500) - - 5,000 (3,969) - 1,031
Donations (The Big Give) Summer
Opportunity
Fund - 9,808 - - 9,808 14,006 (9,808) - 14,006
Shaftesbury Summer
Opportunity
Fund 10,000 10,000 (10,000) - 10,000 - (10,000) - -
Paul Hamlyn Foundation Summer
Opportunity
Fund - 10,000 (10,000) - - 10,000 - - 10,000
Derwent Winter
Community
Fund - - - - - 5,000 (5,000) -
Shaftesbury Winter
Community
Fund - - - - - 5,000 (5,000) -

YOUNG CAMDEN FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

16 Restricted funds

Restricted funds
Donations (inc. The Big Give) Winter
Community
Fund
Camden Council
Community
Impact Fund
GLA
Core restricted
City Bridge Trust
Core Funding
Paul Hamlyn Foundation
Core Funding
John Lyon's Charity
Supplementar
y Schools
John Lyon's Charity
HSE Small
Grants Fund
Camden Council
Play Providers
Fund
City Bridge Trust
Restricted
Staff Post
Paul Hamlyn Foundation
Heads Up
Fund
Shaftesbury
Heads Up
Fund
Camden Council
HAF 21
Camden Council
HAF 22
Total restricted funds
Unrestricted funds
Total funds		 -
84,788
-
9,428
-
23,100
-
8,200
28,786
-
-
(4,639)
-
164,303
122,322
286,625		 -
-
-
(73,560)
9,400
(9,400)
45,000
(54,428)
10,000
(10,000)
25,000
(23,100)
50,000
(28,526)
-
(17,551)
-
(31,200)
25,000
(25,000)
-
-
737,430
(732,970)
-
(896)
941,638
(1,034,583)
176,572
(114,412)
1,118,210
(1,148,995)		 -
-
-
-
-
-
-
9,351
2,414
-
-
-
896
12,661
(12,661)
-		 -
11,228
-
-
-
25,000
21,474
-
-
-
-
(179)
-
84,019
171,821
255,840		 15,479
(15,523)
-
(7,525)
-
-
40,000
(40,000)
10,000
(10,000)
-
(25,000)
50,000
(70,341)
-
-
-
-
-
-
25,000
-
-
-
748,800
(730,901)
928,285
(939,755)
215,272
(177,870)
1,143,557
(1,117,625)		 (Continued)
44
-
-
3,703
-
-
-
-
-
-
-
-
-
1,133
-
-
-
-
-
-
-
25,000
-
(179)
179
18,078
223
72,772
(223)
209,000
-
281,772

YOUNG CAMDEN FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

17
Analysis of net assets between funds
Unrestricted
funds
Restricted
funds
2023
2023
£
£
Fund balances at 31
March 2023 are
represented by:
Current assets/(liabilities)
209,000
72,772
209,000
72,772		 Total Unrestricted
funds
Restricted
funds
2023
2022
2022
£
£
£
281,772
171,821
84,019
281,772
171,821
84,019		 Total
2022
£
255,840
255,840

18 Operating lease commitments

At the reporting end date the Foundation had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2023 2022
£ £
Within one year 8,640 6,000

19 Related party transactions

During 2022/23 Martin Pratt was the Deputy Chief Executive of Camden Council. Camden Council provided funding to Young Camden Foundation of £840,832 (2022 - £799,519). Young Camden Foundation also provided funding to two separate departments of Camden Council- Youth Early Help £29,222 (2022 - £27,341) and Camden Sports Development £19,200 (2022 - £18,040).

Foyezur Miah is Chief Executive of QCCA which received grants and funding from Young Camden Foundation totalling £14,497 (2022 - £17,855).

Abdikadir Ahmed is an employee of SYDRC (Somali Youth Development Resource Centre) which received grants, funding and room hire payments from Young Camden Foundation totalling £17,641 (2022 - £16,900).

Paula Peet is an employee of PACE (Play Adventures and Community Enrichment) which received grants and funding from Young Camden Foundation totalling £167,675 (2022 - £124,006).

Maggie Mendy is an employee of WAC Arts which received grants, funding and room hire payments from Young Camden Foundation totalling £3,180 (2022 - £11,309).

20 Post Balance Sheet Events

There were no post balance sheet events requiring disclosure.

YOUNG CAMDEN FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

21
Cash generated from operations
Surplus/(deficit) for the year
Adjustments for:
Investment income recognised in statement of financial activities
Movements in working capital:
Decrease in debtors
Increase in creditors
(Decrease)/increase in deferred income
Cash generated from operations		 2023
£
25,932
(927)
14,150
13,397
(14,400)
38,152		 2022
£
(30,785)
(9)
15,199
22,238
120,000
126,643

22 Analysis of changes in net funds

The Foundation had no debt during the year.